Fair value measurements (Tables)

12 Months Ended

Mar. 31, 2026

Disclosure of Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the fair values of the assets and liabilities measured at fair value on a recurring basis. Transfers between levels of fair value are recognized at the date of the event or change in circumstances that caused the transfer:


	Yen in millions
	March 31, 2025
	Level 1		Level 2			Level 3		Total
Other financial assets:
Financial assets measured at fair value through profit or loss
Public and corporate bonds		110,516		110,488			10,710		231,713
Stocks		—		—			46,215		46,215
Investment trusts		286,799		331,429			—		618,228
Interest rate and currency swap		—		395,588			—		395,588
Foreign exchange forward, option and other contracts		—		62,991			24,800		87,790

Total		397,315		900,495			81,724		1,379,534

Financial assets measured at fair value through other comprehensive income
Public and corporate bonds		4,487,174		4,571,862			19,401		9,078,437
Stocks		3,054,754		—			192,131		3,246,885
Other		10,947		—			—		10,947

Total		7,552,875		4,571,862			211,532		12,336,269

Other financial liabilities:
Financial liabilities measured at fair value through profit or loss
Interest rate and currency swap		—		(303,670	)		—		(303,670	)
Foreign exchange forward, option and other contracts		—		(16,211	)		—		(16,211	)

Total		—		(319,881	)		—		(319,881	)
●


	Yen in millions
	March 31, 2026
	Level 1		Level 2			Level 3		Total
Other financial assets:
Financial assets measured at fair value through profit or loss
Public and corporate bonds		123,344		132,079			12,200		267,623
Stocks		—		—			884,667		884,667
Investment trusts		352,452		295,737			—		648,189
Interest rate and currency swap		—		414,706			—		414,706
Foreign exchange forward, option and other contracts		—		12,947			51,795		64,741

Total		475,796		855,468			948,661		2,279,925

Financial assets measured at fair value through other comprehensive income
Public and corporate bonds (Note 1)		4,449,366		3,084,093			19,447		7,552,906
Stocks (Note 2)		3,311,613		—			263,565		3,575,178
Other		9,855		—			—		9,855

Total		7,770,835		3,084,093			283,011		11,137,940

Other financial liabilities:
Financial liabilities measured at fair value through profit or loss
Interest rate and currency swap		—		(300,486	)		—		(300,486	)
Foreign exchange forward, option and other contracts		—		(57,469	)		—		(57,469	)

Total		—		(357,955	)		—		(357,955	)

Disclosure of Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2025 and 2026:


	Yen in millions
	For the year ended March 31, 202 5
	Public and corporate bonds			Stocks			Foreign exchange forward, option and other contracts		Total
Balance at beginning of year		31,170			401,089			—		432,259
Total gains (losses)
Net income (loss)		(8	)		(87,665	)		24,800		(62,873	)
Other comprehensive income (loss)		—			(40,717	)		—		(40,717	)
Purchases and issuances		9,572			36,330			—		45,902
Sales and settlements		(9,210	)		(1,035	)		—		(10,245	)
Transfer to (from) Level 3		(3,125	)		(77,884	)		—		(81,009	)
Others		1,711			8,228			—		9,939

Balance at end of year		30,111			238,346			24,800		293,257

Unrealized gains or losses included in profit or loss on assets held at March 31		(76	)		(87,665	)		—		(87,741	)

Total		(76	)		(87,665	)		—		(87,741	)


	Yen in millions
	For the year ended March 31, 2026
	Public and corporate bonds			Stocks			Foreign exchange forward, option and other contracts		Total
Balance at beginning of year		30,111			238,346			24,800		293,257
Total gains (losses)
Net income (loss)		35			8,074			25,277		33,386
Other comprehensive income (loss)		—			17,978			—		17,978
Purchases and issuances		9,692			857,263			—		866,955
Sales and settlements		(7,399	)		(4,801	)		—		(12,200	)
Transfer to (from) Level 3		(1,452	)		—			—		(1,452	)
Others		659			31,371			1,718		33,749

Balance at end of year (Note)		31,646			1,148,232			51,795		1,231,673

Unrealized gains or losses included in profit or loss on assets held at March 31		25			8,074			25,277		33,376

Total		25			8,074			25,277		33,376

(Note) Includes 21,322 million yen of “Assets held for sale” recorded on the consolidated statement of financial position.

Disclosure of Carrying Amount And Fair Value of Financial Assets And Liabilities

The following table summarizes the carrying amount and the fair value of financial assets and liabilities measured on an amortized cost basis:


	Yen in millions
	March 31, 2025
	Carrying amount		Fair value
	Carrying amount		Level 1		Level 2		Level 3		Total
Receivables related to financial services		33,625,035		—		—		34,004,152		34,004,152
Interest-bearing liabilities
Long-term debt (Including current portion)		32,795,058		—		25,706,416		6,972,698		32,679,114


	Yen in millions
	March 31, 2026
	Carrying amount		Fair value
	Carrying amount		Level 1		Level 2		Level 3		Total
Receivables related to financial services		38,966,655		—		—		39,407,482		39,407,482
Interest-bearing liabilities
Long-term debt (Including current portion)		36,795,373		—		29,046,698		7,653,684		36,700,382